CO129-394 - Governor Sir May & Public Offices - 1912 [12] — Page 155

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COP Y.

152 Draft Bill entitled An Ordinance to prohibit the Circula-

C.0. -tion of Foreign lotes.

Be it enacted &c.,

تان

&C...

2217

Short Title.

1. This Ordinance may be cited as the Foreign léteА(Proibi-

e tu sbu.. esJun 1708simu1q lie sebulant "eton" biow and CORPHILTO INCL. Ordinames the word note" includes all ball

-tion of Circulation), Ordinance 1913. geno. La egaitutio od bouradni bus bremer no 191.90 of eIdayng MOJJIT LiJanų to bowline To Beduinw,MJCA.Ji2184 19

JoMoriyan of 10 90 20 jllGToywny,Jolabi Taveoulkim vu caJLITY, LIJI

meyes,sbosb Ilayable to bearer on demand, whether issued by a Bank

· ¿enom sa eduiuoric of abrevni um other party.

•

C

Circulation

of Notes pro- -hibited save

in certain authorized cases.

Penalty for Junlawful

circulation lof notes.

Circulation

defined.

Provisions for addition to authorised exemptions from Ordinan-

-ce

3. The Circulation of all kinds of notes other than those of

the Hongkong and Shanghai Banking Corporation, the Chartered

Bank of India, Australia and China and the Mercantile Bank

of India is prohibited.

4 (1). If any person circulates or attempts to circulate any

note or notes the circulation of which is prohibited by this

Ordinance, he shall be liable on sumary conviction to a fine

not exceeding 20 dollars and the note or notes so circulated

or attempted to be circulated shall be forfeited.

(2). For the purposes of this section a person shall be

deemed to circulate notes if he tenders, utters, buys, sells,

receives or pays them, or puts them off; provided that a

person shall not be deemed to circulate notes if he gives or

receives such notes to or from a bona fide banker or licensed

money changer in exchange for other nates or coin or for any

other purpose, and provided also that this section shall not

be construed so as to prevent or restrict the legitimate business of a bona-fide exchange banker or licensed money-

-changer.

5. Whenever a notification shall appear in the Gazette under

the hand of the Colonial Secretary to the effect that the

issue of notes other than those specified in Section 3 above has been sanctioned by Royal Charter or Ordinance then such notes shall be exempted from the provisions of this Ordinance

in